Hatch-Singapore makes its first investment
View(s):Hatch Fund Singapore has made its first investment, backing Cultive8, a fast-growing agri-technology start-up with Sri Lankan roots and a rapidly expanding regional footprint, ploughing in approximately US$650,000.
This will streamline parts of Cultivate8’s cap table while injecting fresh growth capital to accelerate regional and international expansion. Beyond capital, Cultive8 will gain access to Hatch’s global accelerator platform, which supports early-stage companies through follow-on fundraising, strategic partnerships, and market entry. This includes access to markets such as Singapore, Japan, the UAE, and the US, where Hatch maintains a strong network and on-ground presence.
Hatch is the centre of gravity for Sri Lanka’s start-up and innovation ecosystem, combining co-working, incubation, mentorship, acceleration, partnerships and venture funding to start-ups. This milestone investment reflects Hatch’s commitment to supporting high-potential early winners originating from South Asia and scaling them to global markets, the company said in a media release.
Cultive8, formerly known in Sri Lanka as Agrithmics, is now headquartered in Singapore, with operational teams across Sri Lanka, India, and Bangladesh. The company is a well-established provider of automation, ERP and fintech solutions for large and mid size plantations and processing facilities across South Asia. Its growing portfolio includes partnerships with leading enterprises across telecommunications, agriculture, and industrial sectors, and it continues to expand its presence in India and Bangladesh. With exclusive focus on the Agriculture based industry, Cultive8 is providing AI/ IOT enabled technologies to solve challenges faced by this critical sector.
Prashanth Premakumar, founder and group CEO of Cultive8 said: “At Cultive8 we are passionate about what we build to elevate the plantation and agriculture sector in the region. With the investment from Hatch Global we are excited to take this Sri Lankan tech to the Asian markets and beyond. I strongly believe our continued efforts in R&D for the sector will provide direct impact for many critical challenges faced in the agricultural value chain”
Hatch Fund Singapore is a $20 million early-stage fund focused on technology and technology-enabled start-ups emerging from South Asia. Commenting on the investment, Jeevan Gnanam, Co-founder of Hatch and the Hatch Fund, said: “The early signs of globally scaling start-ups from Sri Lanka are extremely encouraging. They reflect the strong tailwinds created by a stabilising macro-economic environment post-crisis. Hatch Fund is uniquely positioned to identify and support these early winners as they transition from local success to global scale.”
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